List of Top 5 Health Insurance Policies with Low Waiting Periods

Thinking of buying a health insurance policy? Then, you are advised to consider several factors like the sum assured, premium, tenure, and so on. The waiting period is also one of those important factors worth considering when buying an insurance policy. All insurance policies, irrespective of the type, have an insurance waiting period.

Before we share with you the list of minimum waiting period health insurance policies, we want you to understand all about the waiting period. We will also disclose if there is any health insurance without a waiting period?

What is the Waiting Period in Health Insurance?

The waiting period in health insurance is a period before which a policyholder can’t avail the coverage for a list of illnesses under one’s health insurance policy. The formula is simple, which says if the policyholder incurs any medical expenses due to a health issue during the waiting period, then those expenses need to be incurred by self. The policy will not cover those expenses under any circumstances.

The health insurance waiting period takes into consideration the status of your pre-existing diseases or (PED). Insurers don’t offer coverage for pre-existing conditions during the waiting period. However, once the waiting period gets over, even the medical expenses for pre-existing health conditions get covered by the health insurance plans.

Why Choose a Minimum Waiting Period Health Insurance Plan?

The benefit of choosing a low waiting period in health insurance is that it helps you get prompt coverage for your pre-existing diseases without poking a hole in your pocket. Some insurance companies offer different waiting periods for different conditions. They are not interested in offering a low waiting period to consumers with pre-existing diseases. However, now insurers are coming up with minimum waiting period health insurance plans to ease the tension of people with PED.

List of 5 Best Health Insurance Plans with Low Waiting Period:

If you wish to buy health insurance with a minimum waiting period, then we are here to help you out. Here is a list of minimum waiting period health insurance plans:

1. Bajaj Allianz Health Care Supreme
2. Bajaj Allianz Silver Health
3. Max Bupa Heartbeat
4. Oriental Insurance HOPE Health Insurance
5. Star Health Red Carpet

1. Bajaj Allianz Health Care Supreme

This is an annual health insurance plan that can be availed in individual, floater, and group policy. It provides full coverage for maternity as well as newborn expenses.

Let’s see some features of Bajaj Allianz Health Care Supreme:

• Minimum waiting period for this insurance plan is 2 years.
• Offers recovery benefit, which is a lump sum amount according to the policy if the insured person is hospitalized for more than a week.
• Up to 50% of sum insured as a maximum cumulative bonus with the facility to avail 5 claim-free years.
• Offers a family discount of 5% if more than 1 person is enrolled.

2. Bajaj Allianz Silver Health

So far, the best minimum waiting period for health insurance of just 1 year. The best option for parents and those with some pre-existing diseases. It provides coverage for expenses incurred on pre-existing diseases from the second year.

Let’s see some features of the Bajaj Allianz Silver Health Plan:

• Waiting period of 1 year for PED.
• Available to people aged between 46 years and 70 years.
• Options for sum insured range between Rs. 50,000 to Rs. 5 lakhs.
• Additional 5% family discount for covering more than 1 person.

3. Max Bupa Heartbeat

You can choose the Max Bupa Heartbeat plan in three forms, including Heartbeat Individual Plan, Heartbeat Family First Plan, and Heartbeat Family Floater Plan. All these three plans come with different variants like Silver, Platinum, and Gold.

Let’s see some features of Max Bupa Heartbeat Health Plan

• Minimum insurance waiting period is 2 years.
• Gold and Platinum sum insured options.
• Offers coverage for all the medical expenses for treatments under AYUSH.
• Offers coverage for all daycare treatments.

4. Oriental Insurance HOPE Health Insurance

This is one of the most affordable insurance plans for senior citizens and parents. With a policy period of 1 year, it covers some specific injuries, illnesses, and diseases.

Let’s see some features of Oriental Insurance HOPE Health Insurance:

• Minimum insurance waiting period of 2 years.
• Offers premium discount on voluntary co-payment option.
• Offers domiciliary hospitalization benefit.
• Offers cashless facility only through TPA, which is limited to Rs. 1 lakh.

5. Star Health Red Carpet

Feel free to choose this health insurance plan on an individual or family floater basis. It offers coverage for all the consultation expenses to a fixed limit. It offers a minimum waiting period of just 12 months.

Let’s see some features of the Star Health Red Carpet Plan:

• Minimum insurance waiting period is 1 year.
• Available to senior citizens or people aged between 60 to 75 years of age.
• Available in policy terms of 1, 2, and 3 years.
• Easy co-payment options are available.

The Conclusion:

An ideal health insurance plan should offer a low pre-existing condition waiting period. Spending time in a detailed study of the waiting period will help you buy health insurance in a better way. At present, we don’t have any health insurance without a waiting period, so buying one with a minimum waiting period would be the best choice. A little consideration about the waiting period when buying a health insurance policy will prevent you from repenting at a later stage.